Quote by Eliot Spitzer

The Republican argument that raising the debt ceiling encourages additional future spending is logically irresponsible. The debt ceiling has to be raised to authorize spending already approved by Congress. Despite that fallacy, the GOP has been able to score political points with its argument.

The Republican argument that raising the debt ceiling encour

Summary

This quote criticizes the Republican argument surrounding the raising of the debt ceiling. It argues that the notion that raising the debt ceiling will lead to increased future spending is not grounded in logical reasoning. The quote suggests that the debt ceiling is only raised to allow for spending that has already been approved by Congress. Despite the fallacious nature of the argument, the quote acknowledges that the Republican party has been successful in gaining political advantage through this stance.

Topics

Future

By Eliot Spitzer

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